Regulatory violations in India’s pharma sector fell 11pc in 2024. Another recent report showed that the country’s pharmaceutical exports are projected to double from approximately $27 billion in 2023 to reach $65 billion by 2030. The total number of US Food and Drug Administration (FDA) inspections has declined globally, from around 1,849 annually in 2014 to approximately 940 in 2024, while India’s share has surged. India is the largest supplier of generic drugs globally, accounting for one in five generic drugs sold worldwide. While India currently ranks 11th in terms of export value, the nation can potentially secure a position among the top five nations in export value by 2047, according to the report by Bain & Company. The country’s biosimilar exports, currently valued at $0.8 billion, are also projected to grow 5 times to $4.2billion by 2030, capturing 4 per cent of the global market, and reach $30-35 billion by 20 47.
